Trinity Point expansion approved after five-year wait
The $665-million expansion of the Trinity Point precinct at Lake Macquarie has been sold as "Australia's leading waterfront destination" and Lake Macquarie's answer to the Sydney Opera House, but has been mired in planning red tape for the past five years.
Johnson Property Group founder Kieth Johnson, who has held the site for 25 years, said it was a relief to see approvals finally secured after a years-long wait that left investors in uncertainty.
"We have had investors and potential joint venture partners wanting to talk to us, but we couldn't do a thing," Mr Johnson said. "We had nothing to guarantee until (Friday, August 1)."
"Unfortunately NSW is the slowest state in Australia to get approvals."
The luxury waterfront project will bring a resort experience to the shores of Lake Macquarie, complete with a cutting-edge wellness centre and two world-class restaurants, as well as 160 waterfront apartments, conference facilities, and commercial and public space in a sprawling precinct designed by boundary-pushing architect firm Koichi Takada.
Mr Johnson, who is the same developer behind Lake Macquarie's Watagan Park project, said the project was aimed at city-siders looking to escape to the regions in the post-COVID era, adding that designs had reduced the number of apartments but increased their size to cater to changing market tastes.
"People want to move to the country. They want to move, but they want bigger units," he said. "It's a really luxurious lifestyle."
He now hopes that, with development approvals secured, the project will move to detail designs and ultimately to tender within the next year. He estimated it would be a three-year build after that.
"This project is about putting Lake Macquarie on the global stage," Mr Johnson said. "We're not just building something beautiful we're creating a destination that will showcase the best of this region to the world and leave a lasting legacy for generations to come."
An earlier planning document indicated the project would create 398 jobs and some $15.8 million in salaries.
The largest development project outside of Sydney is one step closer to being built after a protected development application - five years in consideration - was approved on Friday.
The $665-million expansion of the Trinity Point precinct at Lake Macquarie has been sold as "Australia's leading waterfront destination" and Lake Macquarie's answer to the Sydney Opera House, but has been mired in planning red tape for the past five years.
Johnson Property Group founder Kieth Johnson, who has held the site for 25 years, said it was a relief to see approvals finally secured after a years-long wait that left investors in uncertainty.
"We have had investors and potential joint venture partners wanting to talk to us, but we couldn't do a thing," Mr Johnson said. "We had nothing to guarantee until (Friday, August 1)."
"Unfortunately NSW is the slowest state in Australia to get approvals."
The luxury waterfront project will bring a resort experience to the shores of Lake Macquarie, complete with a cutting-edge wellness centre and two world-class restaurants, as well as 160 waterfront apartments, conference facilities, and commercial and public space in a sprawling precinct designed by boundary-pushing architect firm Koichi Takada.
Mr Johnson, who is the same developer behind Lake Macquarie's Watagan Park project, said the project was aimed at city-siders looking to escape to the regions in the post-COVID era, adding that designs had reduced the number of apartments but increased their size to cater to changing market tastes.
"People want to move to the country. They want to move, but they want bigger units," he said. "It's a really luxurious lifestyle."
He now hopes that, with development approvals secured, the project will move to detail designs and ultimately to tender within the next year. He estimated it would be a three-year build after that.
"This project is about putting Lake Macquarie on the global stage," Mr Johnson said. "We're not just building something beautiful we're creating a destination that will showcase the best of this region to the world and leave a lasting legacy for generations to come."
An earlier planning document indicated the project would create 398 jobs and some $15.8 million in salaries.
The largest development project outside of Sydney is one step closer to being built after a protected development application - five years in consideration - was approved on Friday.
The $665-million expansion of the Trinity Point precinct at Lake Macquarie has been sold as "Australia's leading waterfront destination" and Lake Macquarie's answer to the Sydney Opera House, but has been mired in planning red tape for the past five years.
Johnson Property Group founder Kieth Johnson, who has held the site for 25 years, said it was a relief to see approvals finally secured after a years-long wait that left investors in uncertainty.
"We have had investors and potential joint venture partners wanting to talk to us, but we couldn't do a thing," Mr Johnson said. "We had nothing to guarantee until (Friday, August 1)."
"Unfortunately NSW is the slowest state in Australia to get approvals."
The luxury waterfront project will bring a resort experience to the shores of Lake Macquarie, complete with a cutting-edge wellness centre and two world-class restaurants, as well as 160 waterfront apartments, conference facilities, and commercial and public space in a sprawling precinct designed by boundary-pushing architect firm Koichi Takada.
Mr Johnson, who is the same developer behind Lake Macquarie's Watagan Park project, said the project was aimed at city-siders looking to escape to the regions in the post-COVID era, adding that designs had reduced the number of apartments but increased their size to cater to changing market tastes.
"People want to move to the country. They want to move, but they want bigger units," he said. "It's a really luxurious lifestyle."
He now hopes that, with development approvals secured, the project will move to detail designs and ultimately to tender within the next year. He estimated it would be a three-year build after that.
"This project is about putting Lake Macquarie on the global stage," Mr Johnson said. "We're not just building something beautiful we're creating a destination that will showcase the best of this region to the world and leave a lasting legacy for generations to come."
An earlier planning document indicated the project would create 398 jobs and some $15.8 million in salaries.
The largest development project outside of Sydney is one step closer to being built after a protected development application - five years in consideration - was approved on Friday.
The $665-million expansion of the Trinity Point precinct at Lake Macquarie has been sold as "Australia's leading waterfront destination" and Lake Macquarie's answer to the Sydney Opera House, but has been mired in planning red tape for the past five years.
Johnson Property Group founder Kieth Johnson, who has held the site for 25 years, said it was a relief to see approvals finally secured after a years-long wait that left investors in uncertainty.
"We have had investors and potential joint venture partners wanting to talk to us, but we couldn't do a thing," Mr Johnson said. "We had nothing to guarantee until (Friday, August 1)."
"Unfortunately NSW is the slowest state in Australia to get approvals."
The luxury waterfront project will bring a resort experience to the shores of Lake Macquarie, complete with a cutting-edge wellness centre and two world-class restaurants, as well as 160 waterfront apartments, conference facilities, and commercial and public space in a sprawling precinct designed by boundary-pushing architect firm Koichi Takada.
Mr Johnson, who is the same developer behind Lake Macquarie's Watagan Park project, said the project was aimed at city-siders looking to escape to the regions in the post-COVID era, adding that designs had reduced the number of apartments but increased their size to cater to changing market tastes.
"People want to move to the country. They want to move, but they want bigger units," he said. "It's a really luxurious lifestyle."
He now hopes that, with development approvals secured, the project will move to detail designs and ultimately to tender within the next year. He estimated it would be a three-year build after that.
"This project is about putting Lake Macquarie on the global stage," Mr Johnson said. "We're not just building something beautiful we're creating a destination that will showcase the best of this region to the world and leave a lasting legacy for generations to come."
An earlier planning document indicated the project would create 398 jobs and some $15.8 million in salaries.
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
The Age
22 minutes ago
- The Age
Why the Voss call is easier for Carlton than the Goodwin call for Melbourne
They have gun players who've either flirted with the idea of leaving (Charlie Curnow) or made plain their unhappiness and wish to get out (Christian Petracca). In Oliver's case, it was the club that first raised the prospect of trading him, only to baulk when he was ready to join Geelong; it is a non-deal that the Demons should regret. Despite the shared problems and superficially similar situations, there's a clear difference in the nature of the coach calls that Carlton and Melbourne confront. Carlton are in a better position to judge Voss – and to remove him, if that's deemed necessary – even though he's only in his fourth season with the Blues. How so? The Blues have had their new CEO in the building for the entire 2025 season, even though Wright has been the understudy – the dauphin, if you like – to exiting chief executive Brian Cook. Their president, Rob Priestley, assumed the role early this year ahead of schedule following the scandal that saw off his predecessor Luke Sayers. Priestley, the chairman of J.P. Morgan, had been tapped as Sayers' successor for some time, and is more than familiar with the football department's workings and worries. Loading The Demons, conversely, have had only an interim CEO this year, David Chippindall, and the new CEO Paul Guerra won't be installed until next month. The presidency, too, is in transition. Brad Green holds the role now, but is slated to hand over to a former player (and lawyer) from an earlier generation, ex-MCC chairman Steven Smith, later this year. Carlton's shot callers – Wright, in particular – have had a front-row seat to observe Voss during 2025. Further, Wright's had a full season to assess the playing list, list management, high performance and culture. Oh, and a detailed understanding of their salary cap and contracts (another unfortunate parallel – the Blues and Dees have paid a huge amount to stars, and have accordingly tight player payments). Guerra, when he arrives, will be on a steeper learning curve than health ministers during COVID. Unlike Wright, he is not a football expert, and will have to defer to the judgment of others, such as Smith, Green and ex-All Blacks manager Darren Shand, who did the recent review of the Demons' football operations. Carlton have the more stable leadership. Their CEO, board and president have been in place and should know the score. This column is not venturing a view on whether Voss should be sacked. Not now. The point is that the Blues have a better vantage to judge their coach's suitability than Melbourne, despite Goodwin's nine years in the job. It is debatable which of these coaches has encountered more turbulence, if you count matters such as supporter unrest (Goodwin grateful for added security at Marvel Stadium on Saturday), and frenzied media intrusion – Carlton, as the bigger prey, will always draw heavier fire. Goodwin, however, has had more obstacles in his path when factoring in board instability, the questions over player behaviour – dating back to the Entrecote dust-up and peaking around the drug suspension of Joel Smith – and the separate but equally damaging circuses around Petracca and Oliver. Loading Did Goodwin's methods or management contribute to these problems that made his coaching life difficult after 2022? Possibly. But there were also factors outside his domain, which made it harder to have a singular focus on coaching. Goodwin appeared to have done enough mid-season, on the back of a victory at the Gabba, to hold his position next year, as I suggested. Results since, 'have not necessarily been to [his] advantage', to borrow from the Japanese emperor Hirohito's surrender speech. The Demons have gone south. Voss' curse has been injury, both in 2024 and this year. This must be considered when judgment day comes. The Wright call, however, will be predicated on whether the coach has the right stuff for 2026 and beyond. Most crucial to Carlton and Melbourne's self-examinations will be their understanding of their position – ie, if they are undertaking mini-rebuilds or refreshing of their lists (the Demons have put their toe in those waters already), or if either believe they can re-jig, find some mature players from rivals and scale the mountain quickly. The Blues are committed to father-son Harry Dean and to Andrew Walker's gun son Cody, and will regain Jagga Smith, a top-three pick in 2024, over the next two post-seasons. This necessarily gives them signposts for the future. How quickly can those kids come on alongside Curnow, Jacob Weitering and Sam Walsh? Knowing precisely where you're situated in the premiership cycle is paramount. Once you're sorted on that front, the calls on players, coaches and recruiting follow.
Sydney Morning Herald
22 minutes ago
- Sydney Morning Herald
Why the Voss call is easier for Carlton than the Goodwin call for Melbourne
They have gun players who've either flirted with the idea of leaving (Charlie Curnow) or made plain their unhappiness and wish to get out (Christian Petracca). In Oliver's case, it was the club that first raised the prospect of trading him, only to baulk when he was ready to join Geelong; it is a non-deal that the Demons should regret. Despite the shared problems and superficially similar situations, there's a clear difference in the nature of the coach calls that Carlton and Melbourne confront. Carlton are in a better position to judge Voss – and to remove him, if that's deemed necessary – even though he's only in his fourth season with the Blues. How so? The Blues have had their new CEO in the building for the entire 2025 season, even though Wright has been the understudy – the dauphin, if you like – to exiting chief executive Brian Cook. Their president, Rob Priestley, assumed the role early this year ahead of schedule following the scandal that saw off his predecessor Luke Sayers. Priestley, the chairman of J.P. Morgan, had been tapped as Sayers' successor for some time, and is more than familiar with the football department's workings and worries. Loading The Demons, conversely, have had only an interim CEO this year, David Chippindall, and the new CEO Paul Guerra won't be installed until next month. The presidency, too, is in transition. Brad Green holds the role now, but is slated to hand over to a former player (and lawyer) from an earlier generation, ex-MCC chairman Steven Smith, later this year. Carlton's shot callers – Wright, in particular – have had a front-row seat to observe Voss during 2025. Further, Wright's had a full season to assess the playing list, list management, high performance and culture. Oh, and a detailed understanding of their salary cap and contracts (another unfortunate parallel – the Blues and Dees have paid a huge amount to stars, and have accordingly tight player payments). Guerra, when he arrives, will be on a steeper learning curve than health ministers during COVID. Unlike Wright, he is not a football expert, and will have to defer to the judgment of others, such as Smith, Green and ex-All Blacks manager Darren Shand, who did the recent review of the Demons' football operations. Carlton have the more stable leadership. Their CEO, board and president have been in place and should know the score. This column is not venturing a view on whether Voss should be sacked. Not now. The point is that the Blues have a better vantage to judge their coach's suitability than Melbourne, despite Goodwin's nine years in the job. It is debatable which of these coaches has encountered more turbulence, if you count matters such as supporter unrest (Goodwin grateful for added security at Marvel Stadium on Saturday), and frenzied media intrusion – Carlton, as the bigger prey, will always draw heavier fire. Goodwin, however, has had more obstacles in his path when factoring in board instability, the questions over player behaviour – dating back to the Entrecote dust-up and peaking around the drug suspension of Joel Smith – and the separate but equally damaging circuses around Petracca and Oliver. Loading Did Goodwin's methods or management contribute to these problems that made his coaching life difficult after 2022? Possibly. But there were also factors outside his domain, which made it harder to have a singular focus on coaching. Goodwin appeared to have done enough mid-season, on the back of a victory at the Gabba, to hold his position next year, as I suggested. Results since, 'have not necessarily been to [his] advantage', to borrow from the Japanese emperor Hirohito's surrender speech. The Demons have gone south. Voss' curse has been injury, both in 2024 and this year. This must be considered when judgment day comes. The Wright call, however, will be predicated on whether the coach has the right stuff for 2026 and beyond. Most crucial to Carlton and Melbourne's self-examinations will be their understanding of their position – ie, if they are undertaking mini-rebuilds or refreshing of their lists (the Demons have put their toe in those waters already), or if either believe they can re-jig, find some mature players from rivals and scale the mountain quickly. The Blues are committed to father-son Harry Dean and to Andrew Walker's gun son Cody, and will regain Jagga Smith, a top-three pick in 2024, over the next two post-seasons. This necessarily gives them signposts for the future. How quickly can those kids come on alongside Curnow, Jacob Weitering and Sam Walsh? Knowing precisely where you're situated in the premiership cycle is paramount. Once you're sorted on that front, the calls on players, coaches and recruiting follow.
The Age
11 hours ago
- The Age
‘Wolf in cashmere': Billionaire's luxury empire is facing a crisis
LVMH's market value has fallen by more than a quarter over the past year, to less than €250 billion. Hermes, a luxury brand Arnault tried and failed to buy, and has eyed with envy ever since, has taken LVMH's crown as the most valuable company in the industry, despite generating only €15 billion in sales last year. Adding insult to injury, the Arnault family, which has topped France's rich list since 2017, has also been dethroned by the Hermes clan. Can Arnault turn the ship around? Loading LVMH can't blame the economic environment for all its woes. It raised prices enormously in the post-COVID 'revenge shopping' boom, irking some customers. The price of Louis Vuitton's Speedy 30 canvas tote bag has more than doubled since 2019, for example, while the average price of personal luxury goods in Europe has increased by just over 50 per cent, according to HSBC, a bank. Only a handful of designers, including Chanel and Gucci, have raised prices more. A series of scandals have also damaged the image of some of its brands. Moet Hennessy, LVMH's drinks division, has recently faced accusations of sexual harassment, bullying and unfair dismissal by former employees (which it denies). On July 14, an Italian court placed Loro Piana, an LVMH label that sells cashmere sweaters for more than $US1000 ($1500) a piece, under judicial administration for using suppliers that allegedly violate labour rights. Dior faced similar investigations last year. LVMH's response has been half-hearted: 'Transparency, control and management of this whole ecosystem can sometimes prove a bit difficult,' it said recently. Arnault is attempting to steer towards calmer waters. New bosses have been put in charge of the booze, watches and retailing units. The appointment of Jonathan Anderson as the new creative director of Dior has been cheered by fashionistas. Some investors, however, worry that the companies' problems are deeply rooted. One concern is that decades of pushing fancy clothing and accessories not just to the super-rich but also the merely well-off has made LVMH's brands more vulnerable to economic cycles and dented their image of exclusivity. Even Louis Vuitton, the company's crown jewel, has not been immune. Analysts at HSBC term the brand 'schizophrenic' for its attempt to peddle entry-level products like chocolate and make-up alongside ultra-pricey handbags and luggage. Loading The outlook for Moet Hennessy is more worrying still. As profits have shrunk, the division has announced thousands of job cuts. Analysts point out that young consumers aren't drinking as much as older generations, and when they do, they tend to shy away from spirits such as cognac, which make up a big chunk of LVMH's booze business. The wine and spirits division now contributes less than 10 per cent of LVMH's operating profits, down by roughly half over the past decade. By contrast, Hermes, which has remained focused on selling fashion to the exceedingly wealthy, has continued growing handsomely. Its market value as a multiple of its net profit is now more than twice as high as for LVMH. Brunello Cucinelli, another purveyor of ultra-luxe fashion, is valued at a similar multiple to Hermes. If Louis Vuitton were to be valued at such a multiple, it alone would be worth significantly more than the entirety of its parent company. That has led some to call for LVMH to break itself up. On July 25, reports emerged that it was exploring a sale of Marc Jacobs, a fashion label founded by a former creative director of Louis Vuitton. A bolder move would be jettisoning the troubled drinks business. Diageo, owner of tipples from Guinness to Johnny Walker, already controls a third of Moet Hennessy and has in the past expressed interest in taking the rest of it off LVMH's hands. The British company is currently grappling with its own slump in profits and recently parted ways with its chief executive, but analysts speculate that it could make a deal work by selling off its beer business at the same time. Arnault, aged 76, is navigating all this while making plans for a transition at the helm. He clearly intends to keep the enterprise under family management. All five of his children work in different corners of his empire under the tutelage of experienced executives. His daughter, Delphine, who has been tasked with turning around Dior, is his eldest and the only of his offspring on the executive committee of LVMH, making her the most likely candidate to succeed her father. Yet, there are other possibilities. In February, Alexandre was parachuted in as the deputy head of Moet Hennessy. In March Frederic was put in charge of Loro Piana.
